Click here to jump to the latest returns for lifecycle super funds. Close to 70% of Australians with super in one of the major funds are invested in their fund’s MySuper option, the default option for employees who don’t choose a super fund. If you are a member of a retail fund, this is most likely a lifecycle product ... Read more
Comparing super funds
Which superannuation fund is the most suitable for you? In this section, you can learn how to compare super funds in 8 steps, where to find the latest information on fund performance and investment options, and how to discover, and compare, other important features of super funds, such as cost-effective life insurance cover, reasonable super fund fees, and other member services.
If you have not chosen your super fund, then your employer’s super contributions have been paid into a MySuper account, selected by your employer or as stipulated in an industrial award or enterprise agreement. What then happens to your employer’s super contributions (Superannuation Guarantee) when you change jobs?
In this section, you can also discover whether you have the right to choose/change your super fund, and the steps you need to take to make that happen.
Click on the links below for more information on comparing super funds:
- Types of super funds
- MySuper and your super
- Comparing super funds in 8 steps
- Choosing a super fund (fund choice)
- How do I complete a Standard Choice Form?
- Investment performance
- Super fees and charges
- Insurance and super
- Considering an SMSF
Below are some of our key Comparing super funds articles:
Set out below are all SuperGuide articles that relate to Comparing super funds.
Monthly Superannuation Returns Performance Reckoner (for 5 investment options)
You can find out the median monthly investment return of the 5 main investment options available in Australian super funds for at least the past 9 calendar years (from January 2014 through to the latest monthly results). You can also check out our SuperGuide article Investment performance: Latest super returns (to ... Read more
Investment performance: Latest super returns (to March 2019)
Note: For investment returns over 1 month, 3 months, 1 year, 3, 5, 7, 10 and 15 years to 31 March 2019 for 5 main investment options offered by super funds, see Table 1 later in the article. For month-by-month performance data, going back 5 years (63 months), for the 5 main investment options offered by super ... Read more
Super and pension funds with the lowest fees
In the recent Productivity Commission (PC) review of superannuation, the high fees paid by too many super members became a principal focus for the report. A key issue identified by the PC was that “balances are eroded by fees and insurance”, and the PC also claimed that fees were “the biggest drain on net ... Read more
Top performing sustainable investment funds
Investors are enjoying an explosion in the range of sustainable investment options in the market. Between 2016 and 2017 there was a 340% rise in funds that screen assets for their sustainability features, or lack thereof, with assets under management (AUM) jumping from $33.6 billion to $147.7 billion across the period, ... Read more
What are typical fees and costs for running an SMSF?
Many SMSF investors are in the dark about what are typical SMSF fees, and whether they are paying a fair price for SMSF advice and services. In an ASIC report from June 2018, 32% of SMSF members found setting up and running their SMSF to be more costly than expected, compared with just 9% of SMSF members who found it ... Read more
The Rule of 72, and how it can help you choose an investment
How long does it take to double your investment? The basic answer is way more simple than you’d expect. By applying The Rule of 72, you’ll be able to answer that question since it is an easy mathematical formula which can estimate the number of years required to double the invested money at a given annual compounded ... Read more
Which Australian super funds accept transfers from Kiwisaver accounts?
If you have KiwiSaver savings, you can voluntarily transfer them to an Australian super fund under the provisions of a Trans-Tasman Retirement Savings Portability scheme that was introduced on July 1, 2013. Consolidating your funds in this way can help you to avoid paying multiple fees on your retirement savings. ... Read more
Guide to the Superannuation Standard Choice Form
The Superannuation Standard Choice Form is an Australian Taxation Office (ATO) document that allows you to choose a super fund that your employer’s contributions will be paid into on your behalf, provided you meet eligibility conditions. Under Australian super legislation, your employer must pay 9.5% of your ordinary ... Read more
What type of people have SMSFs?
According to the latest Australian Taxation Office (ATO) statistics, more than 1.1 million Australians are members of self-managed super funds (SMSFs). The number has been steadily increasing for several years. SMSFs are privately run super funds that can currently have between one and four members. The government has ... Read more
How much super do you need to set up an SMSF?
How much super you need to set up an SMSF is very contentious issue. It has been the subject of considerable analysis from the Australian Taxation Office (ATO), the Australian Securities and Investments Commission (ASIC) and the Productivity Commission. However, there are still no clear answers. In this article, we’ll ... Read more
What are the different types of super funds?
Choosing a super fund is one of the most important financial decisions you will make during your working life. With the difference between a top fund and a poorly performing one potentially adding tens of thousands of dollars to your retirement nest egg, choice of fund deserves careful consideration. Whether you are ... Read more
What makes a financial adviser independent?
Just because a financial planner’s business card doesn’t display the logo of a bank or insurance company doesn’t mean he or she is independent. Five years ago 40,000 people were surveyed by Roy Morgan Research on the perceived independence of their financial planner. It turns out that a disturbing number are totally ... Read more
Industry funds overtake retail funds in assets, lead in satisfaction and performance
APRA statistics released this week show retail funds have lost nearly $23 billion in value since December 2017, while over the same period industry funds grew by nearly $40 billion. This represents a change in value of assets of -6% for retail funds and +4% for industry funds. In December 2017, before the Royal ... Read more
What is MySuper, and which super funds are MySuper funds?
If you are now, or even have been, an employee and can’t remember ever choosing a superannuation fund, chances are you have retirement savings sitting in one or more MySuper accounts. As we’re talking about 9.5% of your income and possibly hundreds of thousands of dollars by the time you retire, it’s worth following ... Read more